Cal-Maine Foods (NASDAQ:CALM) Sets New 52-Week High at $75.90

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) reached a new 52-week high during trading on Tuesday . The stock traded as high as $75.90 and last traded at $75.90, with a volume of 122787 shares. The stock had previously closed at $74.84.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised their price target on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the company a “sell” rating in a report on Wednesday, July 17th.

Cal-Maine Foods Trading Up 2.2 %

The stock has a fifty day moving average price of $70.97 and a 200 day moving average price of $63.94. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 13.61 and a beta of -0.10.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Tuesday, July 23rd. The basic materials company reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.41 by ($0.09). Cal-Maine Foods had a return on equity of 16.46% and a net margin of 11.94%. The company had revenue of $640.80 million for the quarter, compared to the consensus estimate of $652.32 million. During the same period in the previous year, the company earned $2.27 EPS. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year.

Cal-Maine Foods Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, August 5th were issued a $0.77 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.08 annualized dividend and a yield of 4.03%. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 54.61%.

Insider Buying and Selling at Cal-Maine Foods

In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of Cal-Maine Foods stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total value of $106,395.00. Following the transaction, the vice president now directly owns 16,754 shares in the company, valued at $1,188,361.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total value of $106,395.00. Following the sale, the vice president now owns 16,754 shares in the company, valued at $1,188,361.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total transaction of $210,600.00. Following the transaction, the chief operating officer now owns 5,310 shares of the company’s stock, valued at $372,762. The disclosure for this sale can be found here. Insiders sold 6,000 shares of company stock worth $422,970 over the last ninety days. Company insiders own 13.51% of the company’s stock.

Institutional Investors Weigh In On Cal-Maine Foods

A number of institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP acquired a new stake in shares of Cal-Maine Foods during the 4th quarter worth approximately $47,771,000. Balyasny Asset Management L.P. boosted its position in shares of Cal-Maine Foods by 748.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 790,266 shares of the basic materials company’s stock valued at $45,353,000 after acquiring an additional 697,170 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Cal-Maine Foods by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,616,011 shares of the basic materials company’s stock valued at $159,863,000 after acquiring an additional 114,995 shares during the period. Renaissance Technologies LLC raised its position in Cal-Maine Foods by 5.5% in the second quarter. Renaissance Technologies LLC now owns 2,115,624 shares of the basic materials company’s stock worth $129,286,000 after purchasing an additional 110,900 shares in the last quarter. Finally, Hodges Capital Management Inc. lifted its stake in Cal-Maine Foods by 129.0% during the first quarter. Hodges Capital Management Inc. now owns 154,225 shares of the basic materials company’s stock worth $9,076,000 after purchasing an additional 86,870 shares during the period. 84.67% of the stock is owned by institutional investors and hedge funds.

About Cal-Maine Foods

Cal-Maine Foods, Inc, together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names.